DCIT, KOL. , KOLKATA vs. RUNGTA MINES LIMITED, KOLKATA

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.286/Kol/2023 Assessment Year: 2019-20 Dcit, Kolkata.................................................................................Appellant Vs. Rungta Mines Ltd.................................................……...…..…..Respondent 8A, Express Tower, 42A, Shakespeare Sarani, Kolkata – 700017. [Pan: Aabcr6463N] Appearances By: Shri Raman Garg, Cit-Dr, Appeared On Behalf Of The Appellant. Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing :October 18, 2023 Date Of Pronouncing The Order : December 14, 2023 आदेश / Order संजय गग", "या"यकसद"य"वारा/ Per Sanjay Garg: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 20.01.2023 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Revenue In This Appeal Has Taken The Following Grounds Of Appeal: “1. That On The Facts & Circumstances Of The Case, The Ld. Cit(A) Has Erred In Not Appreciating That Arm'S Length Price & Fair Market Value Are Two Different Concepts & The Role Of The Tpo Is Limited To Determination Of Arm'S Length Price

250 of the Income Tax Act (hereinafter referred to as the ‘Act’). 2. The revenue in this appeal has taken the following grounds of appeal: “1. That on the facts and circumstances of the case, the Ld. CIT(A) has erred in not appreciating that arm's length price and fair market value are two different concepts and the role

DCIT, CC-1(3), KOLKATA, KOLKATA vs. RUNGTA MINES LIMITED, KOLKATA

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.801&802/Kol/2023 Assessment Years: 2017-18 & 2018-19 Dcit, Cc-1(3), Kolkata …….........................................................……Appellant Vs. Rungta Mines Ltd..........................................……........……...…..…..Respondent 8A, Express Tower, 42A, Shakespeare Sarani, Kolkata- 700017. [Pan: Aabcr6463N] Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Shri S. Dutta, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : September 20, 2023 Date Of Pronouncing The Order : December 15, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders Both Dated 31.05.2023 Of The Commissioner Of Income Tax (Appeals) – 22, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’) Respectively. Since, The Facts & Issues Involved In Both The Appeals Are Common & The Same Have Been Heard Together, Therefore, These Are Being Adjudicated By This Common Order. Ita No.801/Kol/2023 Is Taken As The Lead Case. 2. Ita No.801/Kol/2023 – The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

250 of the Income Tax Act (hereinafter referred to as the ‘Act’) respectively. Since, the facts and issues involved in both the appeals are common and the same have been heard together, therefore, these are being adjudicated by this common order. ITA No.801/Kol/2023 is taken as the lead case. 2. ITA No.801/Kol/2023 – The assessee in this appeal has taken

DCIT CC-1(3),KOLKATA, KOLKATA vs. RUNGTA MINES LIMITED, KOLKATA

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A Nos.801&802/Kol/2023 Assessment Years: 2017-18 & 2018-19 Dcit, Cc-1(3), Kolkata …….........................................................……Appellant Vs. Rungta Mines Ltd..........................................……........……...…..…..Respondent 8A, Express Tower, 42A, Shakespeare Sarani, Kolkata- 700017. [Pan: Aabcr6463N] Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Shri S. Dutta, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : September 20, 2023 Date Of Pronouncing The Order : December 15, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Captioned Appeals Have Been Preferred By The Assessee Against The Separate Orders Both Dated 31.05.2023 Of The Commissioner Of Income Tax (Appeals) – 22, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’) Respectively. Since, The Facts & Issues Involved In Both The Appeals Are Common & The Same Have Been Heard Together, Therefore, These Are Being Adjudicated By This Common Order. Ita No.801/Kol/2023 Is Taken As The Lead Case. 2. Ita No.801/Kol/2023 – The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

250 of the Income Tax Act (hereinafter referred to as the ‘Act’) respectively. Since, the facts and issues involved in both the appeals are common and the same have been heard together, therefore, these are being adjudicated by this common order. ITA No.801/Kol/2023 is taken as the lead case. 2. ITA No.801/Kol/2023 – The assessee in this appeal has taken

ORGANON (INDIA) LIMITED,MUMBAI vs. ADDL. CIT, CIRCLE - 12, KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri A.T. Varkey

section 92C(3) of the Act, which triggers the application of provisions of the transfer pricing. B. Reasons why segment 2 (Contract Manufacturing Segment) cannot be compared to segment 3. - Functional profile of segment 2 and 3 not correctly appreciated by the TPO - Both segment 2 and 3 cannot be compared since both the segment have related party transactions

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

250/-) / 2 = 812,10,87,625/- C= Average value of total assets = 3931,94,81,000/- (3792. 54. 65. 000/ - + 407 1. 34.98. 000/ - ) / 2 = 3931,94,81,000/ - Thus D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

250/-) / 2 = 812,10,87,625/- C= Average value of total assets = 3931,94,81,000/- (3792. 54. 65. 000/ - + 407 1. 34.98. 000/ - ) / 2 = 3931,94,81,000/ - Thus D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

250/-) / 2 = 812,10,87,625/- C= Average value of total assets = 3931,94,81,000/- (3792. 54. 65. 000/ - + 407 1. 34.98. 000/ - ) / 2 = 3931,94,81,000/ - Thus D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

250/-) / 2 = 812,10,87,625/- C= Average value of total assets = 3931,94,81,000/- (3792. 54. 65. 000/ - + 407 1. 34.98. 000/ - ) / 2 = 3931,94,81,000/ - Thus D= 11,63,470 AXB/C=9,69,97,971/- X 812,10,87,625 / 3931,94,81,000 =2,00,34,065/-......2 2) Add: 0.5% of average invest

DCIT/ACIT, CIRCLE-6(2), KOLKATA, KOLKATA vs. M/S. EMAMI LIMITED, KOLKATA

In the result, the appeal filed by the Revenue ( in ITA No

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1065 & 1066/Kol/2017 ("नधा"रणवष" / Assessment Years: 2011-12& 2012-13)

section 92C, the arm’s length price in relation to an international transaction shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely: (a) comparable uncontrolled price method, by which,— (i) the price charged or paid for property transferred or services provided in a comparable uncontrolled transaction, or a number

DCIT/ACIT, CIRCLE-6(2), KOLKATA, KOLKATA vs. M/S. EMAMI LIMITED, KOLKATA

In the result, the appeal filed by the Revenue ( in ITA No

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1065 & 1066/Kol/2017 ("नधा"रणवष" / Assessment Years: 2011-12& 2012-13)

section 92C, the arm’s length price in relation to an international transaction shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely: (a) comparable uncontrolled price method, by which,— (i) the price charged or paid for property transferred or services provided in a comparable uncontrolled transaction, or a number

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S. TEGA INDUSTRIES LTD., KOLKATA

In the result, the Cross Objections filed by the assessee (in C

Bench: Shri A.T. Varkey, Jm & Dr. A. L.Saini, Am

transfer pricing adjustment in respect corporate guarantee @ 2.5% and created additional charge in connection with the corporate guarantee at Rs.9,00,979/-, observing the following: C.O Nos.31, 32 & 33/Kol/2019 Assessment Year: 2009-10, 2010-11 & 2011-12 M/s. Tega Industries Ltd. “36 In a recent case, Hon`ble ITAT, Hyderabad Bench in the case of Four Soft Ltd. (ITA No.1495/HYD/2010

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S. TEGA INDUSTRIES LTD., KOLKATA

In the result, the Cross Objections filed by the assessee (in C

Bench: Shri A.T. Varkey, Jm & Dr. A. L.Saini, Am

transfer pricing adjustment in respect corporate guarantee @ 2.5% and created additional charge in connection with the corporate guarantee at Rs.9,00,979/-, observing the following: C.O Nos.31, 32 & 33/Kol/2019 Assessment Year: 2009-10, 2010-11 & 2011-12 M/s. Tega Industries Ltd. “36 In a recent case, Hon`ble ITAT, Hyderabad Bench in the case of Four Soft Ltd. (ITA No.1495/HYD/2010

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S. TEGA INDUSTRIES LTD., KOLKATA

In the result, the Cross Objections filed by the assessee (in C

Bench: Shri A.T. Varkey, Jm & Dr. A. L.Saini, Am

transfer pricing adjustment in respect corporate guarantee @ 2.5% and created additional charge in connection with the corporate guarantee at Rs.9,00,979/-, observing the following: C.O Nos.31, 32 & 33/Kol/2019 Assessment Year: 2009-10, 2010-11 & 2011-12 M/s. Tega Industries Ltd. “36 In a recent case, Hon`ble ITAT, Hyderabad Bench in the case of Four Soft Ltd. (ITA No.1495/HYD/2010

DCIT, CIR-11(1), KOLKATA, KOLKATA vs. M/S. EPCOS INDIA PVT. LTD., KOLKATA

Appeal of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey) Assessment Year: 2005-06 Deputy Commissioner Of Income Tax, Circle-11(1), Kolkata……..........….…..........…........Appellant Vs. M/S. Epcos India Pvt. Ltd............................………………..................................……………..........Respondent Kulia Kanchrapara Road Kalyani, Nadia Pin – 741 251 [Pan : Aaace 4000 H] Appearances By: Shri Sanjay Paul, Addl. Cit D/R & Shri Supriyo Pal, Jcit, Sr. D/R, Appearing On Behalf Of The Revenue. Smt. Rituparna Sinha, Fca & S.C. Giri C.A., Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : January 15Th, 2020 Date Of Pronouncing The Order : July 10Th, 2020 Order Per J. Sudhakar Reddy, Am :-

250 of the Income Tax Act, 1961 (the ‘Act’), dt. 18/04/2017 for the Assessment Year 2005-06. 2. At the outset we find that there is a delay of 5 (five) days in filing of this appeal by the assessee. After perusing the petition for condonation, we are convinced that the assessee was prevented by sufficient cause from filing

DCIT - 8(2), MUMBAI vs. M/S. PHILIPS MEDICAL SYSTEMS INDIA P. LTD., MUMBAI

In the result, the appeal of the assessee is allowed, while the Revenue’s appeals are dismissed

Bench: Shri P.M. Jagtap & Shri Satbeer Singh Godara

section 250 of the Act, arc bad in law and on facts. 1.2. The Ld. CIT(A) erred in law in holding that AO was not required to inform reasons for disregarding the arms length price computed by appellant before referring the computation of the arm's length price to Transfer

M/S. PHILIPS MEDICAL SYSTEMS P. LTD.,MUMBAI vs. ITO - 8(2)(4), MUMBAI

In the result, the appeal of the assessee is allowed, while the Revenue’s appeals are dismissed

Bench: Shri P.M. Jagtap & Shri Satbeer Singh Godara

section 250 of the Act, arc bad in law and on facts. 1.2. The Ld. CIT(A) erred in law in holding that AO was not required to inform reasons for disregarding the arms length price computed by appellant before referring the computation of the arm's length price to Transfer

INCOME TAX OFFICER, ESPLANADE AAYAKAR BHAVAN vs. ALERT CONSULTANTS AND CREDIT PVT LTD, R N MUKHERJEE ROAD

In the result, the appeal of the revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

Transfer Pricing Officer, as the case may be, if satisfied, may allow an additional period of six months to give effect to the order: Provided further that where an order under section 250

D.C.I.T.,CIRCLA-10(2), KOLKATA vs. M/S BALARAMPUR CHINI MILLS LTD., KOLKATA

In the result, the appeal filed by the Revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

250 of the Income Tax Act, 1961 (hereinafter the ‘Act’), dated 30.04.2019 for the Assessment Year 2015-16. 2. Facts of the case are that the assessee company is engaged in the business of manufacturing and sale of sugar, Molasses, Industrial Alcohol, Ethanol, Organic Man manufacture and generation and distribution of power in the form of steam and electricity